The Statistics and Census Service (DSEC) released results of the Survey on Manpower Needs and Wages of Financial Activities for the third quarter of 2022. The Survey covers the Banking Sector, Other Financial Intermediation, Insurance Activities, and Activities Auxiliary to Financial Intermediation, including financial institutions supervised by the Monetary Authority of Macao, but excluding insurance agents and brokers not directly employed by insurance companies.
At the end of the third quarter of 2022, Financial Activities had 8,377 full-time employees; average earnings (excluding bonuses) of full-time employees in September 2022 were MOP30,500, up by 2.6% year-on-year.
The Banking Sector had 7,151 full-time employees, an increase of 1.2% year-on-year; their average earnings in September went up by 2.3% to MOP31,070. Other Financial Intermediation had 248 full-time employees, up by 2.5% year-on-year; their average earnings reduced slightly by 1.2% to MOP25,710.
Insurance Activities had 764 full-time employees, up by 9.5% year-on-year; their average earnings in September grew by 3.4% to MOP31,130.
Number of full-time employees in Activities Auxiliary to Financial Intermediation went down by 15.1% year-on-year to 214, with clerks (141) decreasing by 19.0%; meanwhile, their average earnings in September rose by 1.4% to MOP14,660.
At the end of the third quarter, number of job vacancies in Financial Activities edged down by 2 year-on-year to 316, of which vacancies in the Banking Sector (279) went up by 7 while those in Insurance Activities (19) dropped by 9. In terms of recruitment prerequisites, 100.0% of the job vacancies in the Banking Sector and 73.7% of those in Insurance Activities required tertiary education, whereas 100.0% and 98.2% of the vacancies in the Banking Sector required knowledge of English and Mandarin respectively.
In the Banking Sector, there were 287 new recruits and 200 employees leaving employment in the third quarter. The employee recruitment rate (4.0%) remained unchanged year-on-year; the employee turnover rate (2.8%) fell by 0.6 percentage points whereas the job vacancy rate (3.8%) grew by 0.1 percentage point. This indicated a slight improvement in employee turnover in the Banking Sector in this quarter.
During the third quarter, a total of 13,422 employee participants from Financial Activities attended training courses provided by the establishment (including courses organised by the establishment or in conjunction with other institutions, and those sponsored by the establishment), a substantial increase of 37.8% year-on-year. Number of vocational training participants from the Banking Sector rose by 37.5% year-on-year to 12,382, and most of them took Business and Administration courses (68.5%), followed by Law courses (28.6%); in addition, 66.6% of the participants from this sector attended courses during non-office hours. As regards course fees, 98.0% of the participants from the Banking Sector took courses paid by the establishment.